Correlation Between ProShares UltraPro and YieldMax DIS
Can any of the company-specific risk be diversified away by investing in both ProShares UltraPro and YieldMax DIS at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining ProShares UltraPro and YieldMax DIS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ProShares UltraPro SP500 and YieldMax DIS Option, you can compare the effects of market volatilities on ProShares UltraPro and YieldMax DIS and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in ProShares UltraPro with a short position of YieldMax DIS. Check out your portfolio center. Please also check ongoing floating volatility patterns of ProShares UltraPro and YieldMax DIS.
Diversification Opportunities for ProShares UltraPro and YieldMax DIS
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between ProShares and YieldMax is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro SP500 and YieldMax DIS Option in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on YieldMax DIS Option and ProShares UltraPro is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on ProShares UltraPro SP500 are associated (or correlated) with YieldMax DIS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of YieldMax DIS Option has no effect on the direction of ProShares UltraPro i.e., ProShares UltraPro and YieldMax DIS go up and down completely randomly.
Pair Corralation between ProShares UltraPro and YieldMax DIS
Given the investment horizon of 90 days ProShares UltraPro SP500 is expected to generate 2.38 times more return on investment than YieldMax DIS. However, ProShares UltraPro is 2.38 times more volatile than YieldMax DIS Option. It trades about 0.15 of its potential returns per unit of risk. YieldMax DIS Option is currently generating about -0.08 per unit of risk. If you would invest 9,745 in ProShares UltraPro SP500 on July 22, 2025 and sell it today you would earn a total of 1,219 from holding ProShares UltraPro SP500 or generate 12.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ProShares UltraPro SP500 vs. YieldMax DIS Option
Performance |
| Timeline |
| ProShares UltraPro SP500 |
| YieldMax DIS Option |
ProShares UltraPro and YieldMax DIS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ProShares UltraPro and YieldMax DIS
The main advantage of trading using opposite ProShares UltraPro and YieldMax DIS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ProShares UltraPro position performs unexpectedly, YieldMax DIS can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in YieldMax DIS will offset losses from the drop in YieldMax DIS's long position.| ProShares UltraPro vs. Vanguard Russell 3000 | ProShares UltraPro vs. iShares MSCI KLD | ProShares UltraPro vs. Oppenheimer Russell 1000 | ProShares UltraPro vs. Schwab 1000 ETF |
| YieldMax DIS vs. YieldMax ABNB Option | YieldMax DIS vs. YieldMax BRKB Option | YieldMax DIS vs. Fundamental Income Net | YieldMax DIS vs. Yieldmax XOM Option |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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